Volunteer Residences-One Inc

Analysis

Volunteer Residences-One Inc is a registered charity in United States, based in Morristown, TN. It received its IRS tax-exemption ruling in May 1992, 34 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Volunteer Residences-One Inc reported income of $165k and spending of $218k, spending 132% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $144k to $165k (+14%), an average of +3.4% a year. The sharpest change came in the year to September 2022, when income dropped by 19%. Over the whole period it spent 125% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Volunteer Residences-One Inc sits at the 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 50th percentile within TN. Charities of a similar size with the same main cause include Asi-Anoka County Inc ($165k), Seward County Housing Corp ($165k) and West End Gardens Housing Develop- Ment Fund Company Inc ($165k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 38% and program service revenue 62% of the total. At year end it held assets of $563k against liabilities of $1.5m, net assets of -$917k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.